Productivity is Strong. Sleep Might Not be Needed.
August 15, 2009 Leave a comment
Some interesting stats came out from the Bureau of Labor Statistics this past week. First it was the better than expected Jobs Report last Friday. But now its the Productivity numbers, the wage numbers, and the consumer Price Index (inflation) numbers.
Here is a breakdown of the numbers (Second Quarter 2009):
Productivity (2Q 2009):
6.3 in the business sector – which is a function of worked hours falling faster than output
| Year | Q1 | Q2 | Q3 | Q4 | Annualized |
| 1999 | 3.9 | 0.3 | 3.3 | 7.1 | 3.3 |
| 2000 | -1.5 | 9.4 | 0.1 | 4 | 3.4 |
| 2001 | -1.3 | 7.4 | 2.5 | 2.5 | 2.9 |
| 2002 | 8.8 | 0.5 | 3.8 | -0.3 | 4.6 |
| 2003 | 3.7 | 5.3 | 9.7 | 1.5 | 3.7 |
| 2004 | 0.9 | 3.7 | 0.7 | 0.8 | 2.8 |
| 2005 | 3.9 | -0.6 | 2.9 | -0.4 | 1.7 |
| 2006 | 2.8 | 0.6 | -1.9 | 2.4 | 0.9 |
| 2007 | 1.2 | 2.8 | 5.5 | 2 | 1.8 |
| 2008 | -0.1 | 3.1 | -0.1 | 0.8 | 1.8
|
| 2009 | 0.3 | 6.4 |
Wage (2Q 2009):
After deflation by the CPI-W, average weekly earnings increased by 3.5 percent. Before adjustment for seasonal change and inflation, average weekly earnings were $612.87 in July 2009, compared with $607.27 a year earlier. An increase of over $5.
Inflation (July ’09):
It was -2.1 as energy prices have weighed it down. Its thought that this is the bottom for prices
Side Bar:
Mutation Tied to Need for Less Sleep Is Discovered
I just think this is a hilarious headline considering productivity, wages, and inflation.
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